CODE OF VIRGINIA

RELEASE OF LIENS (§ 55-79.46)

A. At the time of the conveyance to the first purchaser of each condominium unit
following the recordation of the declaration, every mortgage, deed of trust, any
other perfected lien, or any mechanics’ or materialmen’s liens,
affecting all of the condominium or a greater portion thereof than the
condominium unit conveyed, shall be paid and satisfied of record, or the
declarant shall forthwith have the said condominium unit released of record from
all such liens not so paid and satisfied. The provisions of this subsection
shall not apply, however, to any withdrawable land in a contractable
condominium, nor shall any provision of this subsection be construed to prohibit
the unit owners’ association from mortgaging or causing a deed of trust to
be placed on any portion of the condominium within which no units are located,
so long as any time limit specified pursuant to § 55-79.74 has expired, and so
long as the bylaws authorize the same. This subsection shall not apply to any
lien on more than one condominium unit in a condominium in which all units are
restricted to nonresidential use and in which all unit owners whose condominium
units will be subject to such lien expressly agree to assume or take subject
thereto.

B. In the event that any lien, other than a deed of trust or mortgage, becomes
effective against two or more condominium units subsequent to the creation of
the condominium, any unit owner may remove his condominium unit from that lien
by payment of the amount attributable to his condominium unit. Such amount shall
be computed by reference to the liability for common expenses appertaining to
that condominium unit pursuant to subsection D of § 55-79.83. Subsequent to
such payment, discharge or other satisfaction, the unit owner of that
condominium unit shall be entitled to have that lien released as to his
condominium unit in accordance with the provisions of § 55-66.4, and the unit
owners’ association shall not assess, or have a valid lien against, that
condominium unit for any portion of the common expenses incurred in connection
with that lien, notwithstanding anything to the contrary in §§ 55-79.83 and
55-79.84.

HISTORY: 1974, c. 416; 1985, c. 107; 1992, c. 72; 1993, c. 667.